Mobile gaming company Scopely raises $60M

Scopely just announced that it has raised $60 million in Series C funding.

The round was led by Revolution Growth, a firm led by former AOL executives Steve Case and Ted Leonsis (AOL owns TechCrunch), which targets startups outside Silicon Valley and New York. (Scopely is headquartered in Los Angeles.) Revolution’s Donn Davis is joining Scopely’s board of directors, while Greenspring, Sands Capital Ventures, Cross Creek Advisors and Pritzker Group Venture Capital also participated in the new round.

Scopely has built a platform for promoting and monetizing mobile games, whether developed in-house or by third-party studios. Its titles include The Walking Dead: Road to Survival, Wheel of Fortune Free Play and WWE Champions. The company says it reaches more than 125 million players, with The Walking Dead alone generating hundreds of millions of dollars in annual revenue.

In the funding release, CEO Walter Driver noted that it’s been less than a year since Scopely raised its Series B, and he said the company is already profitable. So why raise more funding?

“This capital infusion will enable us to expand the business through inorganic means while we continue to execute on our path of organic growth in parallel,” Driver said. “The opportunity to work with the founding team of AOL is extremely exciting for us as they have a long history of operating at the intersection of technology and media.”